‘I’m bullish on U.S. businesses, global businesses. We’re not in some defensive posture where we’re mostly in cash or anything like that. The strategy that has been used on the investments is to be over 60% in equities.’

Bill Gates

Gates, 63, is obviously not following the adage of owning your age in bonds.

Yields aren’t very high across all asset classes, Gates points out, and he said there’s reason to think investment returns for the next decade will be less than they have been for the last several decades.